All case studies

GrayStone · Commercial Real Estate

Consistent results across every deal type.

How a commercial real estate investment firm reaches property owners across sale-leaseback, triple NNN, and IOS deals with reply rates steady between 3 and 5 percent.

Commercial real estate towers with a leasing velocity result of plus 212 percent
65K
Emails Sent
all time
537
Opportunities
generated to date
210
Active Mailboxes
under management
3–5%
Reply Rate
across deal types
0%
Primary Domain Risk
dedicated infrastructure

Background

The situation

A commercial real estate investment firm needed a steady pipeline of property owners open to selling across multiple deal structures: sale-leasebacks, triple NNN assets, and industrial outdoor storage. Cold outreach is a primary sourcing channel in CRE, but reaching owners without landing in spam is a persistent problem in the industry.

What we built

We built a dedicated outreach infrastructure of 210 mailboxes, kept completely separate from the firm’s primary business domain. We developed simple, address-personalized sequences that surface buyer interest early and confirm the right contact. Campaigns run continuously with ongoing list management and daily monitoring.

Campaign performance

Volume vs. replies, weekly
Oct 2025 to May 2026 · 7 months of live data
Sent Replies Interested

Deliverability results

99.8%Avg. health score 99.4%Inbox placement 4.3%Avg. reply rate <1.8%Bounce rate <0.1%Spam bounce rate

The TRB Score

97TRB Score

Our proprietary deliverability score

The TRB Score is a single composite metric we track across every account. It combines platform-level mailbox health, independent inbox-placement testing, and sending-signal quality into one number that shows whether the system is operating where it needs to be. Above 90 means the infrastructure is clean, the sending is healthy, and the emails are reaching inboxes.

Campaign breakdown by deal type

Deal typeSentReply rateOpportunities
Triple NNN3,8045.34%55
Sale-Leaseback3,8134.09%58
Industrial Outdoor Storage3,9413.58%34
Let's talk

Ready to actually land in the inbox?

If there's a fit, we'll build you an outreach system that gets seen, and books real conversations.

No pressure. No pitch deck. Just a real conversation.